The U.S. Treasury Department sanctioned the parent company of Segezha, one of Russia’s largest wood product suppliers, on Nov. 2, Earthsight reported.
The sanctioning of Segezha prohibits U.S. firms from purchasing its wood and plywood products. Unlike the European Union and United Kingdom, the U.S. has yet to implement a total ban on wood products imported from Russia since its invasion of Ukraine.
Segezha’s largest shareholder is Vladimir Yevtushenkov, an advisor to Russian President Vladimir Putin.
Ukraine, which was invaded by Russia in February 2022, has continued to advocate for an all-out ban on Russian imports in the U.S.